The crypto economy is close to expanding as Mastercard is preparing to announce that banks and merchants on its payment network can integrate crypto into their products.
- The network will integrate bitcoin wallets, credit and debit cards that get rewards in crypto and allow digital assets to be spent, and loyalty programs where hotel points can be converted into bitcoin.
- The payments network is collaborating with Bakkt; the crypto company recently split off by Intercontinental Exchange, which will be the provider of custodial services for users who sign up for the services.
- Sherri Haymond, Mastercard’s executive vice president of digital partnerships, stated that the company wants to provide all its partners with the ability to easily add crypto services to all their programs.
The announcement could lead to a major expansion in the ways regular Americans obtain and spend bitcoin and other cryptocurrencies.
MA up +0.20%, BKKT up +89.18%, BTC USD up +3.41%